Twenty one Apartments in a new five storey Development
sold on 125 year leases from 2019
at a combined (rising) CURRENT ground rent of £6,350 per annum
A Development Lease has been granted to the airspace above the existing construction to build a further two, possibly three Apartments which will provide a potential additional ground rent income of £600 per annum when sold and after Development will produce at least £6,950 per annum
The ground rents are reviewed every ten years upward only to RPI with Time not of the Essence
The Landlord Insures, Manages and recovers all costs due from the Lessees AS ADDITIONAL RENT
Lessees cannot alter their premises without the written consent of the Landlord.
Section V Notices have been served and the Lessees did not respond within the Statutory Time Limit.
POTENTIAL PLANNING GAIN
Copy documents held electronically: Apartment Schedule; EWS1, Fire Risk Assessment; Section V Notices; Multiple Drawings and workings for Permitted Development addition on the roof.
Original Developer Selling
GUIDE PRICE £140,000